China and Russia Drive Growth in World’s Billionaires

In China and India, strong economies helped create billionaires from a range of industries.

Money-PillsRising steel and oil prices in Russia, more honest disclosure in Brazil and booming economies in China and India have fueled a spike in billionaires in the so-called BRIC countries.

Moscow is now home to the most billionaires with 79, followed by New York with 58, Forbes said in its annual list of the world’s richest people.
The world’s richest man, Mexican tycoon Carlos Slim, retained his crown for the second year in a row and made more money than any of the other 1,209 billionaires in the past year: $20.5 billion, taking his fortune to $74 billion.

The magazine said China nearly doubled its number of billionaires to 115, while Russia and Brazil posted two-thirds jumps to 101 and 30, respectively. It was the first time countries outside the United States produced over 100 billionaires.

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Source: Michelle Nichols | International Business Times